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Thread: Question about niteflirt bidding and tax deductions .

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    Veteran Member queenelayliah's Avatar
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    Default Question about niteflirt bidding and tax deductions .

    So I have a quick question for you guys. I know niteflirt bidding counts as advertising because you are marketing yourself and your able to deduct this as a business expense.

    My question is what counts as a receipt to show you paid for bidding? Because if you are ever aduited you need to show a canceled check, inovice or receipt to show proof of payment according to the irs. So would screenshots of each month that shows your feature listing/ bidding amount and then a print out from the niteflirt help page that explains how bidding is marketing/ advertising and the concept behind feature listing/bidding?

    Would this surface? I dont want to show the help page because I dont want to mention anything about the adult entertainment business but at the same time I want to claim the $1,285 I spent on bidding. (I am not ashamed of what i do but I definitely don't want it on my taxes).

    What did you ladies use as receipts when you claimed your niteflirt bidding as advertising for tax deductions?
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    God/dess Zofia's Avatar
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    Default Re: Question about niteflirt bidding and tax deductions .

    How do they bill you? How do you pay?

    I pay my business bills through my business checking account. That way I have a record of payment. Also, keep a ledger. Record all your bills and put them in the proper account. For example your bidding bill, you put in the advertising account on the ledger. Advertising is line 8 on your Schedule C. The IRS provides several expense categories for you, but they also have lines for other ordinary and necessary expenses on Part V of Schedule C.

    HTH
    Z

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    God/dess laurielegs's Avatar
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    Default Re: Question about niteflirt bidding and tax deductions .

    Since the bidding amount is deducted before we are paid I don't even include it in my calculations. I simply report the amount that hits my bank account as income and that's it. Would be different if they included it in your income and you then had to pay them but they do not.


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    God/dess Zofia's Avatar
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    Default Re: Question about niteflirt bidding and tax deductions .

    Quote Originally Posted by laurielegs View Post
    Since the bidding amount is deducted before we are paid I don't even include it in my calculations. I simply report the amount that hits my bank account as income and that's it. Would be different if they included it in your income and you then had to pay them but they do not.
    Since the bidding amount is deducted before you are paid, then it is not an expense at all. You are correct, you simply report the amount paid as income.

    Z

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